Money Management a Skill that doesn't exist in the Hood.

In February of 2017 my friend Carol asked me if I budget my money. I do know what a budget is because of my job but I didn't do one for myself. Carol talked to me about saving money and putting away money for an Emergency. At the moment I don't have enough to save. I make just enough to pay my bills and for needs. However, I should be getting a settlement shortly and then I will be able to start a Savings Account.

Now I think before I purchase anything. Carol taught me to ask myself if I need it or want it? If its a need then put it in the budget if it is s want then no if I didn't budget for it. I find myself saying No a lot. Its hard to do that.

She asked me if my parents taught me to budget but they were poor so they didn't know themselves. My parents were generational poor like I am. We are barely taught basic subjects in school and often we are the victims of low expectations because research shows poor children have low IQs. Both of my parents were labeled Learning Disabled. My parents are not alone so many poor people are never taught how to balance their check books. I get paid on a pre paid debit card. I do not have a checking account.

Maybe if we had these skills we would put a part of income tax check in Savings and not lose an Utility later in the year.

The Urban League who helps poor people get a Security Deposit does require a Financial class that teaches budgeting but no one else does.

Carol, is my Accountability partner if she says she doesn't advise it. I don't do it. Its hard and I'm sure mistakes will be made but its a good idea to do this.